The Nigeria Social Insurance Trust Fund (NSITF) and the National Insurance Commission (NAICOM) have established a 12-member joint committee to explore and harmonize collaborative efforts between the two agencies. This initiative was announced following a meeting held on Thursday in Abuja, during a courtesy visit by NAICOM’s Commissioner for Insurance and CEO, Olusegun Omosehin, to the NSITF headquarters.
Co-chaired by Arc. Kabir Ma’aji, General Manager of Compliance at NSITF, and Mrs. Oluwatoyin Charles, Director of Supervision at NAICOM, the committee is tasked with creating a robust collaborative framework that will serve the mutual interests of both organizations and benefit Nigerians at large.
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Their mandate includes developing joint policy frameworks to enhance both social and conventional insurance markets, aligning operational standards, and integrating the NSITF compliance certificate into NAICOM’s regulatory requirements for insurance companies.
The NSITF’s General Manager of Corporate Affairs, Nwachukwu Godson, highlighted the committee’s focus on promoting data sharing, capacity building, and awareness initiatives.
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NSITF Managing Director Oluwaseun Faleye praised the collaboration, noting that it will significantly strengthen the insurance ecosystem and enhance national productivity. He emphasized that despite differences in mandates and operations, harmonizing the strategic interests of both agencies is crucial for national progress.
NAICOM CEO Olusegun Omosehin, supported by his management team, stated that the collaboration is aimed at amplifying the role of the insurance sector in the national economy.
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Meanwhile, NSITF’s Executive Director of Operations, Hon. Mojisolaoluwa Ali-Macaulay, visited the Fund’s Gwagwalada, Kagini, and Jahi offices, reaffirming the leadership’s commitment to overcoming challenges such as digitization, capacity building, and staff welfare. She urged staff to stay committed, emphasizing that the “real new NSITF” has begun.
